Pandora Reports Subscription Revenue Growth of 67 Percent in Q2
Is the tide turning for the streaming music service?
Is the tide turning for streaming music service Pandora? Maybe. Pandora (NYSE: P) wrapped up July with a strong financial report for the second quarter of 2018. Among the highlights are total Q2 revenue of $384.8 million, a 12 percent increase, which exceeded the company’s guidance. Subscription revenue for the second quarter was particularly strong at $113.7 million, a 67 percent increase, excluding Australia, New Zealand and Ticketfly. Pandora discontinued service to Australia and New Zealand as of July 31, 2018, and Pandora closed on the sale of Ticketfly to Eventbrite on September 1, 2017.
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